This review draws directly from a press conference by SiddharthJaaju in June 2022 in which he outlines serious issues with Piramal Finance Limited(formerly Piramal CHFL).
In the conference, Jaaju describes that in December2013 he purchased two bungalows in Aurangabad after paying the full amount upfront. Despite this, the builder failed to complete the township project, allegedly causing around ₹;50crore of losses to him.
He further states that he took a home loan from DHFL, which was later acquired by Piramal Finance. According to him:
The company took possession of his properties in Aurangabad without his knowledge.
A court order from the Debt Recovery Tribunal(Aurangabad) dated 13May2022 directed the return of possession, which he claims was ignored.
He offered to repay the full loan amount and requested a closure letter, but was allegedly refused or ignored.
He alleges homeloan interest rates were inflated(~17%), whereas mainstream banks offer~7%.
He has filed complaints with the Reserve Bank of India and the National Housing Bank and called for cancellation of Piramals license and transfer of DHFL liabilities to a responsible bank.
This clearly demonstrates a pattern of non-compliance, arbitrary actions, and customer-unfriendly practices by Piramal Finance Limited(formerly Piramal CHFL), raising serious concerns about their ethics, governance, and respect for legal and regulatory frameworks.